Anyone from Norway here?? Question how to add loan costs in YNAB
trying to set up my budget but unsure how to properly put in the cost of my loans in the right buckets (interest/avdrag). anyone here norwegian and use YNAB?
If by any miracle it is, i have a "mikrolån" from Lån for deg and bank norwegian and how can i set up the costs in YNAB like it gets right? Right now i have only found out how to put the total monthly cost, but i want it broken down into 2-3 sub categories that adds up to the total cost.
Welcome, Slate Blue Mare ! I'm not from Norway, but I thought I'd ask a few questions to get the ball rolling here. Are you payments broken down into principle (I think that's what I'd call avdrag ) and interest? Or do you just see one payment amount? Is there a reason you'd prefer to break up those payments rather than see it as one amount?
I'm not Norwegian but I'm assuming that what you want to do is record part of the loan payment as interest and part as principal. This is fairly easy to do. Set up categories in your budget for interest and avdrag and then when you record the monthly payment you click on split category to record the interest and avdrag element separately.
If the monthly payment and the interest/avdrag elements are the same month on month you can set it up as a scheduled transaction so that you only have to do that once.
As with all new categories it is worth thinking about what you gain from separating things out. If it helps with either budgeting or reporting to have the items listed separately then go ahead. If it doesn't then a simple loan repayment category suffices. In this instance, I probably wouldn't bother.